Benjamin Edwards Inc. Has $33.19 Million Stake in Fastenal Company $FAST

Benjamin Edwards Inc. trimmed its stake in Fastenal Company (NASDAQ:FAST - Free Report) by 11.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 690,958 shares of the company's stock after selling 92,443 shares during the period. Benjamin Edwards Inc. owned about 0.06% of Fastenal worth $33,186,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FAST. Elyxium Wealth LLC bought a new stake in Fastenal during the fourth quarter worth about $25,000. Palladiem LLC acquired a new position in shares of Fastenal in the 4th quarter worth approximately $25,000. Evergreen Advisors LLC acquired a new position in shares of Fastenal in the 1st quarter worth approximately $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Fastenal during the 2nd quarter worth approximately $26,000. Finally, MV Capital Management Inc. bought a new stake in Fastenal during the 4th quarter worth approximately $29,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Rita J. Heise sold 34,964 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $50.05, for a total value of $1,749,948.20. Following the transaction, the director owned 20,000 shares of the company's stock, valued at $1,001,000. This represents a 63.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael J. Ancius sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $49.00, for a total value of $147,000.00. Following the completion of the transaction, the director owned 58,690 shares in the company, valued at $2,875,810. This represents a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FAST has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Fastenal from $48.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Wolfe Research restated an "underperform" rating and issued a $47.00 target price on shares of Fastenal in a research note on Thursday, July 9th. Rothschild & Co Redburn set a $55.00 price target on Fastenal and gave the company a "buy" rating in a report on Monday, July 13th. Barclays reduced their price target on shares of Fastenal from $47.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 16th. Finally, Sanford C. Bernstein reissued an "underperform" rating on shares of Fastenal in a report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $49.17.

Fastenal Stock Down 2.6%

NASDAQ FAST opened at $49.78 on Friday. The stock has a market capitalization of $57.12 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 3.11 and a beta of 0.72. Fastenal Company has a 52 week low of $38.97 and a 52 week high of $52.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.21 and a current ratio of 4.18. The stock has a fifty day moving average of $48.45 and a 200-day moving average of $46.50.

Fastenal (NASDAQ:FAST - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Fastenal had a return on equity of 34.03% and a net margin of 15.45%.The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, equities research analysts forecast that Fastenal Company will post 1.26 EPS for the current year.

Fastenal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, July 28th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 28th. This is a boost from Fastenal's previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Fastenal's payout ratio is 88.14%.

About Fastenal

Fastenal NASDAQ: FAST is a wholesale distributor of industrial and construction supplies, best known for its broad assortment of fasteners such as bolts, nuts, screws and anchors. Founded in Winona, Minnesota, Fastenal has grown from a regional supplier into a national and international distributor serving a wide range of end markets, including manufacturing, construction, maintenance, repair and operations (MRO), and government customers. The company is publicly traded and operates through a network of locally staffed branches combined with national distribution capabilities.

Product offerings extend beyond fasteners to include tools, safety and personal protective equipment, power transmission components, cutting and welding supplies, janitorial and material handling items, and other industrial consumables.

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